AviaAM Leasing, owned by Lithuanian aviation and pharma mogul Gediminas Ziemelis, is building up a hotel portfolio.
AviaAM Leasing, an aircraft leasing and management company indirectly owned by Gediminas Ziemelis, a Lithuanian businessman, has revealed plans to invest €20 million in two new hotels in the capital cities of Lithuania and Latvia.
DG21, a subsidiary of AviaAM, has already opened a hotel the Loop Hotel close to Vilnius International Airport on the road to the city centre.
Now it aims to invest €5 million in building the luxury Loop Sveciu Namai (Loop Guest House) in Vilnius District, to be completed by 2020.
“Ten rooms are planned, as well as a spa, and we would like to have our own VIP cinema too,” Ana Gvozdovic, managing director of the Loop Hotels chain, tells the news agency BNS. “We also plan to open one of our restaurants there, Fat Cloud.”
DG21 also plans the construction of a much larger four-star, 200-room hotel in Riga over the next two years, investing €15 million in the building.
The property, which is now in the design phase, will be located close to Riga International Airport and will open in 2021, the company claims.
Ziemelis has a number of business interests, such as the holding company Avia Solutions Group, the cargo carrier Sky Gates, the duty-free business operator Globus Distribution, the flight compensation company Skycop, the tour operator BPC Travel, the pharmaceuticals-focused Pharnasanta Group and a number of real estate companies.
Reports have also linked Avia Solutions Group to a projected new startup airline to take to the skies later this year based in Russia.